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The warehouse robotics market size is projected to grow by USD 4.1 billion at a CAGR of 13.31% during the forecast period.
The warehouse robotics market report also offers information on several market players, including ABB Ltd., Daifuku Co. Ltd., FANUC Corp., Fritz SCHAFER GmbH and Co KG, Geekplus Technology Co. Ltd, Hangzhou Hikvision Digital Technology Co. Ltd., IAM Robotics, inVia Robotics Inc, John Bean Technologies Corp., KION GROUP AG, KNAPP AG, KUKA AG, Locus Robotics Corp., Magazino GmbH, Murata Machinery Ltd., OMRON Corp., Teradyne Inc., Toyota Industries Corp., Vecna Robotics Inc., and Yaskawa Electric Corp. among others.
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The need for efficiency in distribution channels is notably driving the market growth, although factors such as malfunctioning robots may impede the market growth. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Market Driver
The demand for efficiency in distribution channels is the key factor driving the global market growth. The growing advancements in distribution channels are paving the way for technologically advanced means of delivery, which, in turn, is increasing the adoption of warehouse robotics. Autonomous robots have gained attention owing to the increasing demand from courier service providers, food chains, and other businesses that need delivery systems. Nowadays, consumers are choosing e-commerce players that can quickly deliver products to their doorsteps.
Hence, retailers, e-commerce companies, and manufacturers are competing to fulfill their customers' requirements without increasing operational costs. Moreover, warehouse robotics is increasingly becoming the preferred alternative solution for parcel delivery as it helps in increasing efficiency and reducing labor costs in the logistics chain. In addition, it helps in increasing the efficiency of deliveries and generating new market opportunities. It is registering a high adoption rate in different industries, such as hospitality, as it offers great convenience to both buyers and sellers. Warehouse robotics allow customers to receive their packages at any time, based on their convenience. Such improvements in the process are appealing to numerous customers who shop online, which is likely to propel the growth of the global warehouse robotics market during the forecast period.
Key Trend
The increased adoption of the Industrial Internet of things (IIoT) technology in robotics will fuel the global market's growth. The robots that are used in industrial applications are increasingly witnessing the deployment of smart sensors and communication devices, also known as IIoT devices, to collect data, which can be utilized to improve productivity and efficiency further. IIoT devices allow the creation of a system that can monitor, collect, exchange, analyze data, and deliver insights that can help drive business decisions. IIoT systems generally consist of intelligent devices, infrastructure for collecting and exchanging data, and cloud-based applications to drive analytics. A large volume of data obtained from various IoT systems and sensors installed in the production system can help operators analyze manufacturing productivity and speed. This helps enhance the reliability of assets and improves cost efficiency. Therefore, the rise in the adoption of IIoT technology in robotics will positively impact the global warehouse robotics market during the forecast period.
Key Challenge
The malfunctioning of robots is the major challenge to the global market growth. The malfunctioning can be harmful or even hazardous for people in the surroundings. Hence, dangerous malfunctions or programmed attacks remain a major concern for end-users. They are vulnerable to external attacks by criminals as well as cyberattacks. Other issues, such as unencrypted control communications, authentication problems, and inadequate authorization that could permit hackers to overwrite firmware, have been found in current robotic products, including warehouse robots. Moreover, they are prone to be hacked and programmed in a harmful manner. The use of various technologies and components, such as GPS and cameras, makes warehouse robotics even more prone to attacks. Microphones, cameras, network connections, and external devices add to vulnerabilities. For instance, the control system of warehouse robotics should be secure so that malicious commands are not sent to the robots; otherwise, they can create havoc and damage public property. Such disadvantages of robots hamper their adoption among end-users, which is expected to adversely affect the growth of the global market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market’s competitive landscape and offers information on several market players, including:
This statistical study of the market encompasses successful business strategies deployed by the key players. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
The market report contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key players.
Our In-house experts produce extensive information on the value chain and parent market of the market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profits and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global industrial machinery market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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46% of the market’s growth will originate from APAC during the forecast period. China, Japan and South Korea are the key markets for the market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The demand for efficiency in distribution channels will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The market share growth in the e-commerce segment will be significant during the forecast period. The growing e-commerce industry has given manufacturers and retailers direct access to customers. With the rise in the customer base for online shopping, manufacturers are focusing on the timely delivery of products with good quality. Hence, e-commerce platforms are providing same-day delivery and other quick delivery services to attract customers. As a result, manufacturers are also engaging in strategic tie-ups with key e-commerce players, such as Amazon.com Inc., to increase their market shares and growth rate.
The Warehouse Robotics Market offers various types including industrial robots, sortation systems, and conveyors, serving functions like storage, packaging, and transshipment across industries like food and beverage, automotive, and pharmaceuticals. Market sizes and forecasts indicate growth with a value in USD. Connected systems enhance material batching, picking, and packaging, ensuring warehouse security and operational efficiency. Automation addresses business costs and errors, with DHL and 3PL companies adopting conveyors, sorters, and pick and place solutions. Robotics industry leaders like Honeywell and Fanuc Corporation drive advancements in sensor technologies and object perception, meeting the rising demand for logistics efficiency amid labor shortages. Major players include Toshiba Corporation, DHL Supply Chain, and Boston Dynamics, catering to the evolving needs of fulfillment centers worldwide.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.31% |
Market growth 2022-2026 |
USD4.1 billion |
Market structure |
Fragmented |
YoY growth (%) |
12.74 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., Daifuku Co. Ltd., FANUC Corp., Fritz SCHAFER GmbH and Co KG, Geekplus Technology Co. Ltd, Hangzhou Hikvision Digital Technology Co. Ltd., IAM Robotics, inVia Robotics Inc, John Bean Technologies Corp., KION GROUP AG, KNAPP AG, KUKA AG, Locus Robotics Corp., Magazino GmbH, Murata Machinery Ltd., OMRON Corp., Teradyne Inc., Toyota Industries Corp., Vecna Robotics Inc., and Yaskawa Electric Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market growth and trends report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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